New partnership to boost RNG availability in Colorado
SEP, a cleantech venture capital and research firm based in Boulder, acquired a minority ownership interest in X3CNG Colorado through its advanced fuel vehicles and technologies fund. X3Energy, a global energy partner specialising in CNG fuelling facilities and energy efficiency services in Parma, Italy, will retain a majority interest in X3CNG Colorado.
X3CNG Colorado operates the largest network of public access CNG fuelling stations along the Front Range, primarily used by commercial and government fleets.
All X3CNG Colorado locations will soon offer 100% RNG to select customers; there are plans to expand this to all customers in the future. X3CNG Colorado will partner with Redmark, another SEP portfolio company, to deliver comprehensive fuelling and vehicle support services for low-emission advanced fuel vehicles.
“We are enthusiastic to partner with SEP in a shared commitment to deliver sustainable and efficient fuels,” said Giovanni Baroni, CEO OF X3Energy.
“Colorado is an excellent area for advanced fuel incentives and we see great opportunities here to further develop the fuelling infrastructure – particularly for RNG.”
Paul Nelson, managing partner of SEP, commented: “With the new $5.4 billion (€4.6 billion) transportation bill, Colorado is well on its way to having robust incentives and support for advanced fuels like RNG.
“By adding X3CNG to our portfolio, we hope to support Colorado fleets with a pathway to quickly and easily lower emissions by expanding the availability of RNG."